NEW YORK, August 20, 2018 /PRNewswire/ --
According to a researchpublished by New Frontier Data, the U.S. CBD industry grew by nearly 40% in 2017, reaching USD 367 Million in sales across hemp-derived and marijuana-derived markets. The increasing demand is expected to push both markets
New Frontier Data CEO, Giadha Aguirre de Carcer, explained, "The U.S. CBD market is primed for expansive growth across its three primary sectors, hemp-derived CBD, marijuana-derived CBD and pharmaceutical CBD. We have already observed market shifts in 2017 as the hemp-derived CBD sector outpaced marijuana-derived CBD for the first time, and we expect to see continued changes as the pharmaceutical sector officially opens in 2018. We project that by 2022, each of these three sectors will account for approximately one-third of the USD 1.9 Billion total market."
Crop Infrastructure Corp. (OTC: CRXPF) is also listed on the Canadian Securities Exchange under the ticker (CSE: CROP). Earlier last week, the Company announced that it, "has received confirmation that its San Bernardino dispensary application has passed stage one of the application review process. As previously announced on July 5th, 2018, Crop Infrastructure has agreed to finance the purchase of real estate on the granting of a California dispensary license. The proposed dispensaries will operate under the brand name Emerald Heights.
Furthermore, the Company is pleased to announce it has increased its ownership from 30% to 49% for its Emerald Triangle cannabis production facility tenanted by Hempire in Humboldt County, California. This 30,000-sq.-ft. production facility sits on approximately nine acres and consists of a 10,000-sq.-ft. medicinal cannabis greenhouse facility, as well as an additional 20,000 sq. ft. of recreational licensed canopy.
As previously announced on Aug. 9th, 2018, harvesting at the Humboldt operation recently began at the first of five 2,000-sq.-ft. greenhouses and is expected to continue at a rate of one greenhouse per week. As each greenhouse is harvested, new starter plants will populate the canopy space. Once the 10,000 sq. ft. of plants have been taken down, the additional 20,000 sq. ft. of canopy will then be harvested.
Michael Yorke, a Director and Chief Executive Officer of Crop Infrastructure, commented: 'This is an exciting time for Crop as our tenant begins its first harvest in California, which makes this an ideal time to increase our ownership in the project from 30% to 49%. Our Humboldt facility is located in one of the most important cannabis jurisdictions in the U.S., and potentially the world, known as the Emerald Triangle. With the advancement of our dispensary application, we are now moving towards assisting tenants in becoming fully vertically integrated in the state of California.'
The Company will purchase the additional 20% of Humboldt for a total consideration of USD 1-Million by issuing five million shares at a deemed price of 20 cents per share. All of these shares will be escrowed for 12 months, with 25% becoming free-trading shares every three months thereafter."
Kush Bottles Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry including cannabidiol ("CBD") manufacturers. Kush Bottles recently announced the launch of Kush Supply Co., a new subsidiary based in Toronto, Ontario, with a national sales force leveraging the robust infrastructure of Kush Bottles' current distribution platform. This new subsidiary will serve licensed producers, processors, retailers and distributors throughout Canada and will be led by Gordon Woolley, Vice President, and Mark Doerr, Regional Sales Director. As the industry-leading provider of responsible and compliant packaging and ancillary products in the U.S., the Company looks forward to bringing the same discipline and level of service to the expanding Canadian market in preparation for October 17th, 2018, when adult cannabis use becomes legal nationwide in Canada. Understanding the unique needs of this market and working within the guidelines put forth by Health Canada, Kush Supply Co. is positioned to become the leading provider of child-resistant product lines, along with other innovative solutions, put forth by Koleto Packaging Solutions, the new research and development arm launched by Kush Bottles Inc. earlier this summer. "Canada has become a global leader in national cannabis reform with its adult-use program, and we are excited to support the significant growth happening in this market," said Nick Kovacevich, Chief Executive Officer of Kush Bottles.
Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. The Company recently reported that it has partnered with the Valiente Group, a beverage production company that specializes in cannabis infusion, to produce a line of cannabis-infused beverages under the IVXX brand. The Company, through the partnership, is currently developing a range of non-alcoholic, cannabis-infused beverages, including 'champagne', 'apple cider', lemonade 'margarita' mix, zero calorie lemon lime soda and cherry lime sparkling water. The infusion technology will be powered by SORSE branded technology, a product of Tarukino Holdings, a patent-pending Emulsion process which leaves beverages without oily residues and without cannabis flavor. The Company is simultaneously developing a single shot flavorless, odorless 5-milligrams and 10-milligram shot that can be added to any beverage or craft cocktail for at-home infusion. "Our relationship with the Valiente Group will enable our initial entrance into the cannabis-infused, non-alcoholic beverage market, which is among the least crowded segments in the adult-use cannabis industry and presents a tremendous first-mover opportunity for Terra Tech," Derek Peterson, Chief Executive Officer of Terra Tech, stated. "The build-out of our Dyer Road facility will serve the growing demand for cannabis-infused beverages in the California Market and, in the future, we expect it to enable distribution to other markets, including Nevada."
HEXO (OTC: HYYDF) creates and distributes innovative, easy-to-use and easy-to-understand products to serve the Canadian cannabis market. HEXO recently announced that it continues to execute on its aggressive expansion at its Gatineau campus, with the first harvest of plants from its new 250,000 sq. ft. greenhouse. HEXO's 250,000 sq. ft. greenhouse expansion, together with the manufacturing expansion, brings the Company's total production space to over 310,000 sq. ft. Construction on the Company's one Million square foot facility is set to be complete by year-end. "We are thrilled to announce that the first plants from our greenhouse expansion have been harvested" said Sebastien St-Louis, HEXO's Chief Executive Officer and Co-Founder. "This is a clear demonstration of HEXO's ongoing execution of our continual harvest strategy, which sees new plants being harvested every week."
Auxly Cannabis Group Inc. (OTCQX: CBWTF) is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. Auxly has recently reported that it has entered into a strategic partnership with Cannabis OneFive Inc. ("C15"), a provider of quality management and document control software systems for the cannabis industry. Auxly's wholly-owned subsidiary, Dosecann Inc., will become a lead subscriber of C15's software, and the Company expects the C15 software to be deployed at other Auxly facilities. Pursuant to the Share Exchange Agreement, Auxly will issue 429,507 common shares and make a cash payment of USD 50,000 to C15, and Auxly will receive 9,000,000 common shares in the capital of C15 and a common share purchase warrant entitling Auxly to purchase 4,250,500 common shares of C15 at an exercise price of USD 0.075 per common share, representing a 30% ownership interest in C15 on a fully-diluted basis. Hugo Alves, President of Auxly commented: "Forming this strategic partnership with Cannabis OneFive provides Dosecann with a robust and much needed operational and compliance system in the highly regulated Canadian cannabis industry. We look forward to working with the team at C15 to implement and optimize the system at Dosecann over the coming months as we develop the facility."
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